Mortgage Calculator Loan Amount: Interest Rate: 30-yr fixed 8.134% 15-yr fixed 7.153% 10/6 ARM 7.957% Monthly Payment: function calcrepayment(){ // Get loan amount from the page var loanAmount = document.getElementById('loanAmount').value; // Get the selected rate type from the page var rateType = document.querySelector('input[name="rateType"]:checked').value; // Declare the interest rate for each type var interestRate30Yr = 8.134; var interestRate15Yr = 7.153; var interestRate10Yr = 7.957; // Variable to store result var monthlyPayment = 0; // Convert the loan amount from string to float loanAmount = parseFloat(loanAmount); // Calculate the monthly payment using the selected type of interest rate if (rateType === '30-yr fixed') { monthlyPayment = loanAmount * (interestRate30Yr / 1200); } else if (rateType === '15-yr fixed') { monthlyPayment = loanAmount * (interestRate15Yr / 1200); } else if (rateType === '10/6 ARM') { monthlyPayment = loanAmount * (interestRate10Yr / 1200); } // Show the calculated result in the page document.getElementById('monthlyPayment').value = monthlyPayment.toFixed(2); } Introduction to Free Mortgage Calculators for Websites Having access to a mortgage calculator that is free and available to anyone on your website will enable users to gain the insight they need into their mortgage situation. Knowing and understanding how changes in interest rates, loan terms and payments will affect your budget will make you more prepared when applying for a mortgage. Using a free mortgage calculator for website provided by an experienced and reliable lender will provide users with the most accurate results possible. Benefits of Free Mortgage Calculators for Websites Using a free mortgage calculator for website is a great way to evaluate current and potential mortgages. You can easily calculate mortgage payments, including principal, interest, taxes, insurance, and PMI. An amortization schedule will also be generated for you. This will show you exactly how much of each payment will be paid towards principal and interest, allowing you to understand your finances better and plan accordingly. In addition, having a free mortgage calculator on your website will help potential borrowers evaluate their current and future financing needs. With such a powerful tool at their disposal, potential borrowers can play with different scenarios to determine what works best for them. For example, you can easily experiment with loan terms and interest rates to see which one provides the best situation for you. This tool can also help you quickly compare different mortgage products or lenders to determine the best option for you. Whether you are looking for a new mortgage or refinancing your existing one, having a free mortgage calculator for website will help you make the best decisions for you and your future. Features of Free Mortgage Calculators for Websites When evaluating free mortgage calculators for website, there are a few key features you should consider. First, you want to make sure that the calculator is easy to use and provides accurate results for your exact financial situation. Next, you will want to verify that the tool automatically updates when interest rates or loan terms change. This will ensure that your analysis is always current and up-to-date. You should also check to see if the calculator offers pre-payment and amortization functions. These features can help you better understand how making extra payments can lower your overall monthly mortgage payments, as well as paying off your loan faster. Knowing this information beforehand can save you thousands of dollars on your mortgage in the long run. Finally, you should look for features such as loan comparison tools and detailed charts and graphs. These features can help you further analyze your data and make the best decision for your mortgage situation. Conclusion In conclusion, having a free mortgage calculator for website can be a valuable resource for borrowers. It allows you to easily compare different loan offers and terms, and gain insight into the financial implications of each option. With these tools at your disposal, you can ensure that you get the best deal possible for your mortgage.